Ford is set to report higher revenue for the fourth consecutive quarter, driven by increased sales particularly in North America, according to estimates by Visible Alpha. The automaker is expected to show more than 9% global sales growth, led by a 15% increase in North America sales. While its expenses are also up by 15% compared to the previous year, the higher sales are expected to offset this increase, resulting in an estimated net income of $1.5 billion for Q1 2023, a significant improvement from the $3.1 billion net loss in the same quarter in 2022. Despite the positive outlook, Ford’s earnings per share are expected to drop slightly to 37 cents a share, down 4% from last year’s Q1. The increase in revenue is seen as a sign that the company has overcome the supply chain issues that impacted its financial performance last year. However, investors remain cautious as other automakers have seen their shares slump after their earnings reports, including Tesla and General Motors. Ford’s Q1 earnings report is due after markets close on Tuesday.
Arconic to be acquired by Apollo for approximately $3 billion
Arconic Corp., a manufacturer of aluminum products, is set to be acquired by Apollo Global Management Inc. for roughly $3...
